CONTENT STATEMENT
- Goods are objects that can satisfy an individual’s wants. Services are actions that can satisfy an individual’s wants.
CONTENT ELABORATION
Goods are objects that satisfy people’s wants, such as:
- bicycles;
- books;
- gasoline;
- clothing; and
- toys.
Services are activities that satisfy people’s wants, such as:
- fast food (food service);
- doctors (medical services);
- lawn care (lawn fertilizing and cutting service);
- pet sitting (pet feeding and walking);
- banks (money holding and check cashing);
- auto repair (fixes cars); and
- childcare.
EXPECTATIONS FOR LEARNING
Identify goods and services.